Warner Bros. Discovery Inc (WBD)Communication Services | Entertainment | New York, United States | NasdaqGS
30.95 USD
|
Hot Take ↕ | Oct. 10, 2026, 7:42 a.m. EDT
The investment case for Warner Bros. Discovery is currently broken by a perfect storm of deteriorating fundamentals and aggressive short-term hedging. The company is posting double-digit revenue declines and burning cash, with a forward P/E that is mathematically undefined due to negative earnings. This isn't just a cyclical downturn; the balance sheet is strained with debt-to-equity nearing 95%, leaving little room for error. The short-term outlook is precarious. The options market is screaming 'down,' with massive open interest in deep out-of-the-money puts indicating a consensus expectation of a sharp drop to test the lows. This speculative pressure aligns with the ugly quarterly results and the risk of further consolidation in the media sector. Long-term, the business faces a value trap scenario. Despite having a massive content library, the execution has been flawed, resulting in shrinking revenues and negative returns on equity. The market has correctly priced this deterioration, and without a clear turnaround in growth trajectory or a deleveraging plan, the stock remains a poor candidate for capital preservation. Investors should avoid this name until the revenue slide halts and profitability returns. |
| Model | MAE |
|---|---|
| AutoARIMA ✓ | 0.051904 |
| AutoTheta | 0.067242 |
| AutoETS | 0.111811 |
| MSTL | 0.118039 |
Forecast horizon: 45 days | Selected: AutoARIMA
| Forecast Reliability | |
|---|---|
| Score | 41% |
| H-stat | 2.06 |
| Ljung-Box p | 0.000 |
| Jarque-Bera p | 0.172 |
| Excess Kurtosis | -1.31 |
| Attribute | Value |
|---|---|
| Sector | Communication Services |
| Debt to Equity Ratio | 94.199 |
| Revenue per Share | 14.498 |
| Market Cap | 77,595,885,568 |
| Forward P/E | -1238.00 |
| Beta | 1.54 |
| Profit Margins | -8.77% |
| Previous Name | Discovery, Inc. |
As of Oct. 10, 2026, 7:42 a.m. EDT: Options activity reveals a distinct 'bear put spread' structure. While there is some call volume near the money, the overwhelming majority of open interest and volume is concentrated in deep out-of-the-money puts (strikes 20, 22, 25, 27) expiring in late October and November. This heavy positioning suggests speculators are betting on a significant downside move, likely targeting a retest of the 17-20 dollar range. The lack of meaningful call open interest above the current price confirms a defensive, bearish sentiment.
| Attribute | Value |
|---|---|
| 52 Week Change | 0.69218147 |
| Address1 | 230 Park Avenue South |
| All Time High | 78.14 |
| All Time Low | 5.118643 |
| Ask | 30.98 |
| Ask Size | 3 |
| Audit Risk | 3 |
| Average Analyst Rating | 2.7 - Hold |
| Average Daily Volume10 Day | 101,254,003 |
| Average Daily Volume3 Month | 39,074,300 |
| Average Volume | 39,074,300 |
| Average Volume10Days | 101,254,003 |
| Beta | 1.539 |
| Bid | 30.87 |
| Bid Size | 1 |
| Board Risk | 9 |
| Book Value | 13.093 |
| City | New York |
| Compensation Risk | 10 |
| Country | United States |
| Crypto Tradeable | 0 |
| Currency | USD |
| Current Price | 30.95 |
| Current Ratio | 0.777 |
| Custom Price Alert Confidence | HIGH |
| Date Short Interest | 1,789,430,400 |
| Day High | 30.99 |
| Day Low | 30.94 |
| Debt To Equity | 94.199 |
| Display Name | Warner Bros. Discovery |
| Dividend Yield | 0.0 |
| Earnings Call Timestamp End | 1,786,017,600 |
| Earnings Call Timestamp Start | 1,786,017,600 |
| Earnings Growth | -0.906 |
| Earnings Quarterly Growth | -0.906 |
| Earnings Timestamp | 1,786,019,400 |
| Earnings Timestamp End | 1,793,881,800 |
| Earnings Timestamp Start | 1,793,881,800 |
| Ebitda | 7,792,999,936 |
| Ebitda Margins | 0.21577999 |
| Enterprise To Ebitda | 13.791 |
| Enterprise To Revenue | 2.976 |
| Enterprise Value | 107,475,263,488 |
| Eps Current Year | -1.145 |
| Eps Forward | -0.025 |
| Eps Trailing Twelve Months | -1.28 |
| Esg Populated | 0 |
| Exchange | NMS |
| Exchange Data Delayed By | 15 |
| Exchange Timezone Name | America/New_York |
| Exchange Timezone Short Name | EDT |
| Fifty Day Average | 28.387 |
| Fifty Day Average Change | 2.5630016 |
| Fifty Day Average Change Percent | 0.09028787 |
| Fifty Two Week Change Percent | 69.21815 |
| Fifty Two Week High | 30.99 |
| Fifty Two Week High Change | -0.03999901 |
| Fifty Two Week High Change Percent | -0.0012907069 |
| Fifty Two Week Low | 17.995 |
| Fifty Two Week Low Change | 12.955 |
| Fifty Two Week Low Change Percent | 0.7199222 |
| Fifty Two Week Range | 17.995 - 30.99 |
| Financial Currency | USD |
| First Trade Date Milliseconds | 1,120,656,600,000 |
| Float Shares | 2,385,394,112 |
| Forward Eps | -0.025 |
| Forward P E | -1,238.0 |
| Free Cashflow | 16,167,374,848 |
| Full Exchange Name | NasdaqGS |
| Full Time Employees | 35,500 |
| Fullday Change | 0.0 |
| Fullday Change Percent | 0.0 |
| Fullday Price | 30.95 |
| Gmt Off Set Milliseconds | -14,400,000 |
| Governance Epoch Date | 1,790,812,800 |
| Gross Margins | 0.47811002 |
| Gross Profits | 17,266,999,296 |
| Has Pre Post Market Data | 1 |
| Held Percent Insiders | 0.04141 |
| Held Percent Institutions | 0.79236 |
| Implied Shares Outstanding | 2,507,136,702 |
| Industry | Entertainment |
| Industry Disp | Entertainment |
| Industry Key | entertainment |
| Is Earnings Date Estimate | 1 |
| Language | en-US |
| Last Fiscal Year End | 1,767,139,200 |
| Long Business Summary | Warner Bros. Discovery, Inc. operates as a media and entertainment company worldwide. It operates through three segments: Streaming, Studios, and Global Linear Networks. The Streaming segment offers streaming services, such as HBO Max and discovery+, and premium pay-TV services, including HBO and certain premium sports streaming products for mobile and connected TV devices. The Studios segment engages in the production and release of feature films for initial exhibition in theaters, production and initial licensing of television programs to third parties and its networks/streaming services. This segment also distributes films and television programs to various third-party and internal television, streaming services, and physical and digital home entertainment markets; related consumer products and themed experience licensing; and publishes, develops, licenses, and distributes content for the interactive space in platforms, including console, handheld, mobile, and PC-based gaming for both internal and third-party game titles. The Global Linear Networks segment provides general and lifestyle entertainment networks, news networks; and hosts international media networks and global sports networks. In addition, the company offers a portfolio of content and products for television, film, streaming, interactive gaming, publishing, themed experiences, and consumer products under the Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Espanol, Hogar de HGTV, and other brands. The company was incorporated in 2008 and is based in New York, New York. As of October 6, 2026, Warner Bros. Discovery, Inc. operates as a subsidiary of Skydance Corporation. |
| Long Name | Warner Bros. Discovery Inc |
| Market | us_market |
| Market Cap | 77,595,885,568 |
| Market State | REGULAR |
| Max Age | 86,400 |
| Message Board Id | finmb_22666093 |
| Most Recent Quarter | 1,782,777,600 |
| Name Change Date | 2,026-10-09 |
| Net Income To Common | -3,166,000,128 |
| Next Fiscal Year End | 1,798,675,200 |
| Non Diluted Market Cap | 77,119,524,953 |
| Number Of Analyst Opinions | 8 |
| Open | 0.0 |
| Operating Cashflow | 3,423,000,064 |
| Operating Margins | 0.05105 |
| Overall Risk | 10 |
| Payout Ratio | 0.0 |
| Peg Ratio | 55.18 |
| Phone | 212 548 5555 |
| Prev Name | Discovery, Inc. |
| Previous Close | 30.95 |
| Price Eps Current Year | -27.03057 |
| Price Hint | 2 |
| Price To Book | 2.3638585 |
| Price To Sales Trailing12 Months | 2.1485777 |
| Profit Margins | -0.08769 |
| Quick Ratio | 0.406 |
| Quote Source Name | Nasdaq Real Time Price |
| Quote Type | EQUITY |
| Recommendation Key | hold |
| Recommendation Mean | 2.66667 |
| Region | US |
| Regular Market Change | 0.0 |
| Regular Market Change Percent | 0.0 |
| Regular Market Day High | 30.99 |
| Regular Market Day Low | 30.94 |
| Regular Market Day Range | 30.94 - 30.99 |
| Regular Market Open | 0.0 |
| Regular Market Previous Close | 30.95 |
| Regular Market Price | 30.95 |
| Regular Market Time | 1,791,230,401 |
| Regular Market Volume | 40 |
| Return On Assets | 0.01708 |
| Return On Equity | -0.08786 |
| Revenue Growth | -0.112 |
| Revenue Per Share | 14.498 |
| Sand P52 Week Change | 0.16440773 |
| Sector | Communication Services |
| Sector Disp | Communication Services |
| Sector Key | communication-services |
| Share Holder Rights Risk | 10 |
| Shares Outstanding | 2,507,136,702 |
| Shares Percent Shares Out | 0.023599999 |
| Shares Short | 59,282,796 |
| Shares Short Previous Month Date | 1,786,665,600 |
| Shares Short Prior Month | 56,310,112 |
| Short Name | Warner Bros. Discovery, Inc. - |
| Short Percent Of Float | 0.023699999 |
| Short Ratio | 3.43 |
| Source Interval | 15 |
| State | NY |
| Symbol | WBD |
| Target High Price | 31.25 |
| Target Low Price | 27.75 |
| Target Mean Price | 30.625 |
| Target Median Price | 31.0 |
| Total Cash | 3,411,000,064 |
| Total Cash Per Share | 1.359 |
| Total Debt | 32,022,999,040 |
| Total Revenue | 36,115,001,344 |
| Tradeable | 0 |
| Trailing Annual Dividend Rate | 0.0 |
| Trailing Annual Dividend Yield | 0.0 |
| Trailing Eps | -1.28 |
| Trailing Peg Ratio | 55.1758 |
| Triggerable | 1 |
| Two Hundred Day Average | 27.650274 |
| Two Hundred Day Average Change | 3.2997265 |
| Two Hundred Day Average Change Percent | 0.11933793 |
| Type Disp | Equity |
| Volume | 40 |
| Zip | 10,003 |